The Minister of Municipalities inaugurates the strategy of the Public Authority for Regulating the Real Estate Sector.
His Excellency Mr. Abdullah bin Hamad bin Abdullah Al-Attiyah, the Minister of Municipality, inaugurated the strategy of the Public Authority for Regulating the Real Estate Sector, which aims to enhance the position of the State of Qatar as an investment destination by regulating, stimulating, and advancing the real estate sector in line with the objectives of the Third National Development Strategy. The event was attended by a number of distinguished ministers, investors, and senior officials in the country.
On this occasion, His Excellency Engineer Khaled bin Ahmed Al-Obaidli, Chairman of the Public Authority for Regulating the Real Estate Sector – Aqariyat, expressed his pleasure at the launch of the Authority’s strategy, which includes a number of ambitious initiatives. He pointed out that it comes in response to the vision of the wise leadership to diversify sources of income, achieve sustainable development, and provide an attractive environment for investment in the real estate sector.
His Excellency said, “The State of Qatar possesses exceptional characteristics that make it an ideal destination for all and a suitable environment for families. Thanks to the advanced infrastructure in transport, communications, and logistics sectors, our country has become a focal point of attention from all over the world. Since the real estate sector is one of the fundamental pillars of our national economy, this strategy has come to serve as a roadmap for its regulation and enhancement, in line with the Qatar National Vision 2030.”
He added, “The strategy we are launching today represents a key step towards building a sustainable and inclusive real estate sector that serves present and future generations. It affirms our commitment to enhancing the position of the State of Qatar as a preferred investment destination and fulfilling the aspirations of our wise leadership in creating a competitive environment that attracts investments.”
The new strategy is based on five key pillars: the development of a national plan for the real estate sector through the establishment of supportive policies that promote sustainable development and align with both local and international real estate market aspirations, the strengthening of legislation and law enforcement through the launch of a licensing committee, the establishment of a real estate development registry to provide transparency in the market, the oversight of the escrow account initiative, and the activation of the dispute resolution committee.
The pillars also focus on professionalizing services by improving service quality through the governance of the property valuation system, creating a regulatory framework for licensing and classifying industry practitioners in line with international standards, and implementing digital initiatives aimed at simplifying procedures through advanced digital platforms, as well as launching initiatives that support transparency and easy access to data.
The fifth pillar, strengthening real estate investment, aims to enhance the position of the State of Qatar as a leading investment and family destination by organizing local and international real estate forums and promoting investment opportunities in the country.
The Public Authority for Regulating the Real Estate Sector reaffirms its commitment to continuing efforts to strengthen the real estate sector in the State of Qatar and ensure the achievement of the goals of the new strategy. This commitment is part of a comprehensive vision that seeks to position Qatar at the forefront of the global investment landscape, with a focus on developing a sustainable and attractive business environment that benefits the national economy and fulfills the aspirations of future generations.
